As part of its rapid expansion, membrane company De.mem has acquired a 32 percent stake in Singaporean company, Aromatec Pte for SGD$100,000.
To date, Aromatec has been focusing on the commercialisation of a hollow fiber Forward Osmosis (FO) technology, developed by Nanyang Technological University in Singapore – the same establishment where De.mem’s hollow fiber nanofiltration membrane was developed.
This latest FO effort reportedly delivers high flux, low salt back flux and is now ready to be deployed in its first commercial projects.
De-mem intends to use its latest product in the de-watering or cold concentration of products in the food & beverage manufacturing process – a market said to be worth US$5.8 billion per year by 2020, according to BCC Research.
Andreas Kroell, CEO of De.mem, said: “The strategic stake in Aromatec not only provides us with a valuable asset but also with the opportunity to generate additional revenues by selling systems and equipment to our partner company specialising on food & beverage manufacturing.”
The Aromatec investment represents part of a continued international expansion from the company, after it raised AUS$4.5 million following an initial public offering in early March.